Ann Arbor Observer cover
Mixer Playground at Fuller Park. Collage by Brenda Miller Slomovits.
Ann Arbor Weather:
Sunday August 19, 2018
Follow us: facebook twitter RSS feed
Print Comment E-mail

Bad Times at Borders

 

continued

While selling assets to reduce debt, the company is moving aggressively to cut costs. It's announced plans to shrink expenses by $120 million this year and next, including reducing its corporate staff by 20 percent. The 156 people laid off in June at its Ann Arbor headquarters included many longtime employees-Joe Gable among them. (Gable won't comment but is said to be pondering a job at Shaman Drum Bookshop on State Street-just a few doors down from the stores he once managed for the Borders brothers.) Another 118 jobs were eliminated at Borders's distribution and sales arms.

In the online community livejournal.com, Borders employees report that more jobs are being cut in the stores, along with perks ranging from 401(k) retirement contributions to free coffee. Many say they're afraid that the company will eliminate their jobs-and could undermine its own future by slashing staff and services too severely.

Jones, though, says he's focused on the future of Borders: "We will continue on with the strategic plan-we feel like we're on the right track with it. To use the analogy, we're sailing along nicely with our boat-hit a storm or a hurricane and you make adjustments, batten down your hatches, detour a bit-but stay on course."

Bookmark and Share
previous  ·  1 ... 18 l 19 l 20 l 21  ·  next page
all on one page
read more stories here -> Marketplace  l  Culture  l  Community  l  News

You might also like:

Tea Angels
Fake Ad: July 2018
Jay Forstner
One-Ring City
Cycling where the peddling's easy
Douglas Kelbaugh
Childcare And Preschool Programs in Chelsea
Transit Vote
AAATA asks voters to renew and restore.
James Leonard
Ministry Through Glitter
Tanya Luz paints Ashley St. pink.
Sabine Bickford
Below Zero
Why does a home designed by Frank Lloyd Wright have forced-air registers in its Cherokee-red floor?
Sue Maguire
Photo: Daddy Robin.
La Taqueria Is Open at Last
After a "ten-month rollercoaster" with the city
Sabine Bickford
Photo: Daddy Robin.
PFC News
"She loves the co-op more deeply than anyone we've had in many years," says Jaime Magiera.
Eve Silberman
spark ann arbor
Ann Arborís Premier Haberdashery, Custom Suiting, Formal Attire.
A visitor's guide to Ann Arbor